Skip to main content

What are the documents to be submitted along with a purchase application during mutual fund buy?

 

 

The following documents are to be submitted along with the purchase application depending on the status mentioned in the application.

 

Every person shall quote his PAN in all investments more to a Mutual Fund for purchase of its units, including fresh/ additional purchase, switch, Systematic Investment / Transfer Provide copy of PAN card, or PAN allotment letter or any intimation from Income tax Department quoting PAN as proof of PAN.

 

KYC is mandatory after Oct 1, 2010

 

COMPANIES / BODY CORPORATE:

 

·  Certified Copy of the Board Resolution.

·  List Containing names and signatures of the signatories, authorized as per the board resolution.

·  Copy of the Memorandum and Articles of Association of the company duly attested by the Company Secretary.

 

PARTNERSHIP FIRMS:

 

·  Copy of the partnership deed duly attested by any one of the partners.

·  Signatures of the partners attested by their bankers.

·  Copy of the resolution signed by the partners, authorizing investments and disinvestments in the Fund.

 

TRUST:

 

·  Copy of the trust deed attested by the trustees / Secretary.

·  Copy of the resolution passed by the trustees

·  List of trustees and signatures authorized as per the resolution duly attested by bankers / secretary of the Trust.

 

CO-OPERATIVE SOCIETIES:

 

·  Copy of the registration certificate attested by the secretary of the society.

·  Copy of the Resolution duly attested by the secretary / office bearer of the society.

·  List of members and their signatures, attested by the bankers.

 

NON-RESIDENT-INVESTORS:

 

On Repatriation Basis:

In case Indian rupee drafts are purchased abroad or payment is made from debit to NRE / FCNR account, an account debit certificate from the bank issuing the draft confirming the debit.

On Non-Repatriation Basis:

In case Indian rupee drafts are purchased abroad or from FCNR / NRE account an account debit certificate from the bank issuing the draft confirming the debit shall be enclosed along with the application form

For subscriptions amounts remitted out of debit to the FCNR / NRE account the Application form must be accompanied with a " Foreign Inward Remittance Certificate (FIRC), issued by the investors bankers

 

Popular posts from this blog

Understanding Your Cibil Credit Information Report

   WE ARE all familiar with the anxiety and uncertainty that we feel when applying for a loan. After all, it's the lender who decides whether we can own our dream home, our first car, or whether our children can pursue higher education. In a nutshell, a better life depends on the lender's decisions.    While other factors do play a part in the lender's decision, the Cibil Credit Information Report ( CIR ) plays a crucial role in a lender's decision to approve a loan application.    Previously, lenders would treat all loan seekers equally. Each applicant, if approved by the lender's internal credit policy, would be charged at the same interest rate for a particular loan size and purpose. The lenders would charge a higher interest rate to all the borrowers, in order to compensate for the possible default of a small portion of the loan disbursed. In other words, it's like a professor (the lender) punishing an entire class (borrowers) for the mischief played b...
Read more

What are the factors affect the changes in Interest Rate of Fixed Deposits?

  What are the factors affect the changes in rate of Fixed Deposits? Fixed Deposits are now considered to be a very old fashioned method of saving, but still attract many investors since they have guaranteed returns at the end of the tenure of the investment at a decent interest rate. There are various factors that affect the rates of interest for a Fixed Deposit. Policies of the Reserve Bank of India   - The several norms and restrictions posed by the Reserve Bank of India , in order to gain optimum control over credit and inflow and outflow of fund throughout the country. The repo rate changes, cash reserve ration tends to change and these changes affect the banking products like Fixed Deposits, loans etc. Recession   - When unemployment in a country crosses the benchmark set Recession hits, and slowly the country faces an economic slow movement, affecting the purchasing power of the people in the country, forcing the Reserve Bank of India to release more funds in the financial marke...
Read more

Mutual Fund Review: ING Dividend Yield

  ING Dividend Yield's small assets enable the fund manager to churn in impressive returns… Strategy The aim of the fund is to invest in stocks which offer a high dividend yield. This fund deploys a value based strategy which aims to gain from investing in fundamentally strong and free cash flow generating businesses. The scheme focuses not only on growth but also on the cash generated by the business, which mostly leads to stable returns even in volatile markets. This fund has a low volatility because of its investment in high yielding stocks. The scheme tries to include stocks that yield dividend above the dividend yield of the Nifty and stocks with liquidity, which throws up a universe of 150 stocks.   Our View Launched in October 2005, this fund invests at least 65 per cent of its assets in high dividend yield stocks. The fund has consistently maintained a mix of stocks across varying market capitalisation, with a higher tilt to mid caps compared to small caps. Howev...
Read more

SBI Small Cap Fund

SBI Small Cap Fund scheme seeks to provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme by investing predominantly in a well diversified basket of equity stocks of small cap companies. SBI Small Cap Fund has widened its margin of outperformance relative to its category and benchmark in the last one year, earning itself a five-star rating. The fund shows a hefty 18 percentage-point outperformance relative to its peers in the last one year, 5 percentage points over three years and 4 percentage points over five years. Needless to say, it has also outpaced its benchmark to deliver convincing five-year annualised returns of 37 per cent. A believer in the credo that a small market cap does not reflect business quality, the fund looks for five attributes in the stocks it buys: competitive advantage, return on capital, growth, management and valuation. SBI Small Cap Fund is among the few in this space to remain at quite a man...
Read more

Myths about Exchange Traded Funds (ETFs)

1) ETFs Are Similar to Individual Stocks: Like MFs, ETF consist of an underlying portfolio of securities that's designed to follow a specific index or investment strategy. Hence, they are as diversified as various mutual funds. 2) ETFs Only Invest in Equity: Since they are listed on the exchange, the general belief is that ETF only consists of equity asset class. Globally, ETFs are available across asset classes – equity, debt, commodities, real estate and so on. In fact, over the past couple of years, India has also seen the emergence of Gold ETFs. 3) All ETFs Are Index Funds: ETF started as a fund which used to track indices and hence they were branded as index funds that are listed. However, ETFs have progressed rapidly and are no longer associated only with passive index funds. Globally, we have seen the launch of actively-managed ETFs. In India, also we recently saw the emer gence of fundamentally-weighted ETFs on Nifty, which busts the myth that ETFs are index funds and can...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now